Envestnet Asset Management Inc. reduced its stake in shares of nVent Electric plc (NYSE:NVT - Free Report) by 19.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 467,326 shares of the company's stock after selling 109,772 shares during the period. Envestnet Asset Management Inc. owned about 0.28% of nVent Electric worth $31,853,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of NVT. Franklin Resources Inc. increased its stake in shares of nVent Electric by 22.1% in the third quarter. Franklin Resources Inc. now owns 7,020,425 shares of the company's stock worth $527,374,000 after purchasing an additional 1,269,335 shares in the last quarter. Norges Bank bought a new stake in shares of nVent Electric during the 4th quarter valued at $197,434,000. Geode Capital Management LLC lifted its holdings in nVent Electric by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,773,168 shares of the company's stock worth $194,894,000 after purchasing an additional 29,794 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in nVent Electric by 8.8% during the 4th quarter. William Blair Investment Management LLC now owns 2,591,405 shares of the company's stock worth $176,630,000 after purchasing an additional 210,690 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in nVent Electric by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,763,254 shares of the company's stock worth $123,891,000 after purchasing an additional 28,876 shares during the period. Hedge funds and other institutional investors own 90.05% of the company's stock.
Analyst Upgrades and Downgrades
NVT has been the subject of a number of analyst reports. CL King upgraded shares of nVent Electric from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a research report on Monday, March 17th. Seaport Res Ptn upgraded shares of nVent Electric from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 21st. KeyCorp decreased their price target on shares of nVent Electric from $75.00 to $60.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group reduced their target price on nVent Electric from $86.00 to $74.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada boosted their price objective on nVent Electric from $85.00 to $86.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, nVent Electric has an average rating of "Buy" and an average target price of $69.00.
Get Our Latest Report on nVent Electric
nVent Electric Price Performance
Shares of NVT stock traded up $0.60 during trading hours on Tuesday, hitting $50.57. 1,662,776 shares of the company's stock were exchanged, compared to its average volume of 1,886,023. The company has a market capitalization of $8.33 billion, a PE ratio of 25.80, a PEG ratio of 1.48 and a beta of 1.21. The company has a current ratio of 1.73, a quick ratio of 1.28 and a debt-to-equity ratio of 0.65. nVent Electric plc has a 12-month low of $41.71 and a 12-month high of $86.57. The business's 50 day simple moving average is $57.06 and its 200-day simple moving average is $66.99.
nVent Electric (NYSE:NVT - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.59 EPS for the quarter, hitting analysts' consensus estimates of $0.59. nVent Electric had a net margin of 10.09% and a return on equity of 14.52%. On average, equities research analysts anticipate that nVent Electric plc will post 3.04 earnings per share for the current year.
nVent Electric Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Friday, April 25th. nVent Electric's dividend payout ratio (DPR) is presently 40.82%.
About nVent Electric
(
Free Report)
nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.
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